The Panama Canal Is Now a Major Problem for U.S. Shale

A boom in natural-gas exports creates new challenges Last-minute schedule changes for LNG tankers headed to Asia It seemed at the time like a somewhat random, and amazingly fortuitous, coincidence. Just as the Panama Canal was unveiling a new, fatter set of locks, U.S. shale drillers were readying their very first exports of liquefied natural gas. While the wide-body tankers that transport LNG would’ve had no chance of squeaking through the original steel locks built a century ago, they could easily traverse the bigger channel and shave 11 days off the trip to primary markets in Asia. Photographer: Susana Gonzalez/Bloomberg But 17 months in, it’s not quite working out as planned. Only a single LNG tanker has a guaranteed passage each day. The natural-gas industry blames the Panama Canal Authority for holdups, and the canal authority blames the industry for being lackadaisical about transit timetables. Whoever’s at fault, this […]